If it is one thing we have all probably learned from the recent years of recession is that money definitely does not grow on trees. I don’t think I know a single family that has not been affected by the blundering economy in some way. There are a lot of negatives that have come from the experience for many but I know many of us have learned a lot from it as well. So many things in our life are taken for granted and by cutting back and analyzing spending hopefully we all have learned what is really valuable in our lives. I know many families who have learned to enjoy weekend nights at box of microwave popcorn and a rented movie rather than an evening out at the move theatre with buckets of popcorn and candy. Something like this is a small thing but many people I know have learned that the things they have changed in their lives they are actually not missing out on. An evening at home may SEEM less exciting but it is more of a bonding night for the family then going out. There are many other things you can change too that you may realize were items you were spending money on unnecessarily. Maybe long after the economy has bounced back we will all remember these things and not feel the need to spend to our limits just because we can. Saving money for a rainy day is sometimes a hard lesson learned but it can be a lesson we take away and use the rest of our life.
This can also apply to small business owners. Many small business owners stretch themselves out financially to try to reach those goals faster. A recent article in The Wall Street Journal titled “Another Season of Hoarders” shows how many small business owners have learned this lesson as well. Families and businesses alike have learned to start saving money. Maybe out of fear or out of necessity but this is not a lesson soon forgotten. The article references how many small business owners have had trouble getting financing during this downturn and can no longer rely on others, only themselves. Because many businesses have yet to see true signs of improvement in the economy, business owners are more likely to save more than ever knowing that a day could come soon where they will need to be bailed out and no one is going to be there to do it except for them.
- Another Season of Hoarders (online.wsj.com)